Maravai LifeSciences (NASDAQ:MRVI) Price Target Cut to $2.00 by Analysts at Robert W. Baird

Maravai LifeSciences (NASDAQ:MRVI) had its target price cut by Robert W. Baird from $3.00 to $2.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

MRVI has been the subject of several other research reports. Morgan Stanley decreased their price target on Maravai LifeSciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 25th. UBS Group reduced their price objective on Maravai LifeSciences from $8.00 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 21st. Bank of America reduced their price objective on Maravai LifeSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Baird R W cut Maravai LifeSciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus set a $5.00 price objective on Maravai LifeSciences in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.64.

Maravai LifeSciences Stock Down 2.8%

MRVI stock opened at $2.06 on Tuesday. Maravai LifeSciences has a 1-year low of $1.67 and a 1-year high of $11.56. The business has a fifty day moving average price of $2.14 and a 200-day moving average price of $4.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 10.74 and a quick ratio of 9.94. The stock has a market capitalization of $523.93 million, a P/E ratio of -1.26 and a beta of 0.19.

Maravai LifeSciences (NASDAQ:MRVI) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Maravai LifeSciences had a negative return on equity of 6.61% and a negative net margin of 81.13%. The business had revenue of $46.85 million during the quarter, compared to analysts’ expectations of $44.01 million. The business’s quarterly revenue was down 26.9% compared to the same quarter last year. Equities analysts forecast that Maravai LifeSciences will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Maravai LifeSciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in Maravai LifeSciences in the fourth quarter worth about $155,000. Bleakley Financial Group LLC increased its position in Maravai LifeSciences by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 41,691 shares of the company’s stock worth $227,000 after buying an additional 9,657 shares in the last quarter. Rhumbline Advisers increased its position in Maravai LifeSciences by 9.9% in the fourth quarter. Rhumbline Advisers now owns 185,221 shares of the company’s stock worth $1,009,000 after buying an additional 16,712 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Maravai LifeSciences in the fourth quarter worth about $112,000. Finally, Franklin Resources Inc. purchased a new stake in Maravai LifeSciences in the third quarter worth about $600,000. Hedge funds and other institutional investors own 50.25% of the company’s stock.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.